Tag Archives: short sales

Nov. 11.

Verbal Offers, I Don't Want To Waste Your Time! Guess What You Just Did!

I’ve been in real estate since the early 90′s..and one thing is certain..I have seen agents attempt to reinvent the wheel…I don’t mean marketing…I mean the basics..I mean in presenting offers..rejected Verbal Offers, I Don't Want To Waste Your Time! Guess What You Just Did!

Without a contract
Without a deposit
Without the terms

Only words and you think your doing your customer a service?

How about mine?  See I thought the intent was to sell a house..if that is the case give your customer a fair shot at it.

Without a verbal offer but in writing, a written offer.  An offer they can visually see via sales contract.

With a commitment which means a deposit and how do you expect a seller to respond without terms.

Think about this….

  • Have you ever presented a verbal offer and then the buyer changes their mind?  Now what?  I guess you got some splaining to do!
  • Do banks accept verbal offers?  NO so don’t expect me working on a short sale to do different. You can’t get the buyer to commit long enough to submit a written offer, maybe you should go back and screen them once again.
  • If a buyer find a home worthy for themselves and their families don’t you think they deserve a fair shot at being a homeowner?  It happens a written offer comes in the same time a verbal is given..which do you think a real estate seller is going to take serious?
  • Just how many verbal offers have been miscommunicated for it to never ever turn into a sales contract?  Then the verbal turns into nothing..Nada..zilch..and you don’t want to waste my time?  How about yours or your buyer’s?
  • What about negotiations, don’t you think you might negotiate easier with proof of a very serious ready, willing and able buyer?  People are visual!  Hello
  • If you are working for your customer, there are times…they are incorrect..its those hard to have conversations that may turn a verbal offer into a written contract.

Pen by Galagonya5 Verbal Offers, I Don't Want To Waste Your Time! Guess What You Just Did!Its our job to explain why it’s important to get our offers in writing and just because your customer (a buyer) wants you to present the offer verbally, I have to ask is this a service or dis-service?

If they hired you, why not have the guts to explain the pitfalls in verbal offers?

The next time someone calls me and states, “I don’t want to waste your time..

I might have to fire back..you just did!” How about you?  Do you present verbal offers? Why?

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May. 05.

Banks Should Require Important Criteria For BPO’S!

There should be additional criteria required by Banks for BPO real estate agents. It disturbs me that some miss the point of doing the BPO.

As I talk to agents who work shortsales it becomes quite clear…that maybe these BPO agents are not obtaining the true value of these properties for sale..visually…comparably..doing a fair market evaluation.  Here is what I mean….

  • Why would a BPO agent care what the active listings are in the subdivision?  Why don’t they have that information?
  • Why would a BPO agent take photo’s and not place the property in it’s true light meaning snap photo’s of stains on the ceiling or plumbing destroyed or an air conditioner missing?  Does that not affect the value of a property?
  • Why is it as listing agents we must point out the flaws or send replacement photo’s to get the bank to see the true condition?
  • I guess my point here is not all BPO real estate agents do a bad job when it comes assisting the bank to accept a short sale shortage.

A solution might be for banks offer a few more bucks to really get a true idea of a property’s condition by requiring additional data…more photo’s and quality  information.

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